BuzzFeed To Become “An M&a Machine” Says Head Of Spac It’s Merging With – Update

BuzzFeed To Become “An M&a Machine” Says Head Of Spac It’s Merging With – Update
Updated with details from press conference: Buzzfeed founder and CEO Jonah Peretti and Adam Rothstein, executive chairman of the Spac that’s taking it public, both said they see many more acquisitions in the company’s future.

“We are hoping to really build an M&a machine,” said Rothstein of the special purpose acquisition company 890 Fifth Avenue Partners. The deal announced today included BuzzFeed’s acquisition of Complex Networks for $300 million.

“There will be more acquisitions. There are more exciting companies out there that we want to pursue,” agreed Peretti. They spoke at a press conference announcing their merger.

Neither would comment on potential targets. “We are not going to buy Viacom, I can confirm that,” Peretti joked.

Digital publisher Group Nine formed a Spac to hunt for companies to buy. Vice Media is said to be merging with a Spac itself. SPACs are formed by investors and executives and
See full article at Deadline »

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